Sealed Air acquires AFP
AFP specialises in custom-engineered protective packaging for retail, e-commerce and direct shipping applications.
Acquiring the company is expected to allow Sealed Air to better position its fabricated foam innovations, such as EcoPure, a sustainable solution made from plant-based resin.
Headquartered in Pflugerville, Texas, AFP was reported to have generated $125m in net sales in 2017 and operates six facilities across the US, with sites in Asia and Mexico. It employs 260 people.
Kenneth P Chrisman, president of Sealed Air’s product care division, said: “With the acquisition of AFP, coupled with our 2017 acquisition of [Singapore-based] Fagerdala, Sealed Air will further expand its capability to provide fabricated designs directly to customers in markets such as electronics and transportation. Sealed Air will also continue to leverage its established network of strategic fabricator partners, which remains an integral part of the company’s strategy to deliver custom high-performance, sustainable packaging solutions.”
In the second quarter of the year, Sealed Air reported a net sales growth of 8% year-on-year, with all of its regions displaying positive growth. It saw the largest growth from Latin America (+19%) and Asia-Pacific (+20%).
